When diving into the world of mortgages, one term you’ll come across is PITI. PITI stands for Principal, Interest, Taxes, and Insurance. It encapsulates the various components of your mortgage payment beyond just the loan amount and interest. Let’s break down each element:
Tag Archives: Tax
All You Need to Know About Relocation Allowance in India
Relocation allowance, often referred to as relocation assistance or relocation package, is a monetary benefit provided by employers to employees who are required to move to a new location for work-related purposes. It aims to offset the expenses incurred during the relocation process and facilitate a smooth transition for the employee.
Deduction of TDS on Sale of Agricultural Land
In India, the taxation system involves various mechanisms to ensure revenue collection, one of which is Tax Deducted at Source (TDS). TDS is a mechanism introduced by the Income Tax Department to collect tax at the source itself. When it comes to the sale of agricultural land, TDS plays a significant role in ensuring tax […]
Everything You Need to Know About the Relevant Tax Rate for GST on Rent
GST has changed the way taxes are collected in India. Not only the residential but also the commercial real estate sector has been affected. Not only the capital market but the rental market has also been hit hard.
PAN vs TAN Numbers in India
In the labyrinth of financial identification systems in India, the PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) play pivotal roles. These alphanumeric codes, assigned by the Income Tax Department, serve distinct purposes, yet their nuances are often misunderstood. In this comprehensive guide, we demystify the PAN and TAN numbers, shedding […]
Maximizing Returns: Second Home Tax Guide
Tags: Home BuyingTaxTax Guide
In the dynamic landscape of real estate investment, owning a second home is not just a lifestyle choice but also a strategic financial decision. Beyond the potential for rental income and capital appreciation, second homebuyers in India can leverage various tax benefits to enhance the overall returns on their investment. This comprehensive guide explores the […]
Strategies to Save Capital Gains Tax on the Sale of Residential Property in India
In the realm of real estate transactions in India, the sale of a residential property can trigger capital gains tax implications. As property values continue to appreciate, understanding how to optimize your tax liability becomes paramount. In this article, we explore strategies tailored for Indian readers on how to save capital gains tax on the […]
TDS on property sale and purchase!
Tags: Real EstateTaxTax Guide
An individual’s income is subject to an indirect tax known as TDS. The TDS is withheld at source from both recurring and one-time income at the time of payment. For instance, if someone wins the lottery, their proceeds will be distributed to them after the appropriate withholding tax has been subtracted. The same holds for […]
How can I pay the Vasai-Virar VVMC property tax?
The Vasai Virar City Municipal Corporation’s (VVMC) internet site provides a platform where people may pay their property taxes quickly. Furthermore, it may be used with the help of consumers to publish various provider demands. The Vasai Virar City Municipal Corporation (VVMC) levies a tax on all immovable properties within its jurisdiction. Every year, the […]
What exactly is Land Tax?
When intending to buy a land/plot or a developed property, it is essential to consider extra charges like stamp duty and registration fees to properly handle money. Land tax, on the other hand, is a regular expenditure that is paid bi-annually or annually. As a result, it must be completely comprehended before making a real […]
